SYDNEY, July 11 (Reuters) - Australia's prudential regulator said on Thursday it has told three of the country's biggest banks to set aside an additional A$500 million ($348 million) each until they have strengthened risk management and reimbursed customers wrongly charged fees.
The Australian Prudential (LON:PRU) Regulation Authority (APRA) said it wrote to Westpac Banking Corp WBC.AX , Australia and New Zealand Banking Group Ltd ANZ.AX and National Australia Bank Ltd NAB.AX to tell them of additional capital requirements.
"Australia's major banks are well-capitalised and financially sound, but improvements in the management of non-financial risks are needed," APRA Chair Wayne Byres said in a statement. ($1 = 1.4364 Australian dollars)